Many stores will offer you 15 percent off when you sign up for a credit card. That 15 percent savings can end up costing you more in the long run; maybe you get hooked into using the store’s card and building your personal debt. Additionally, you may pay around 19.5 percent interest and if you make the minimum payment each month, you’ll be lucky to have the merchandise paid off by 2012. You wind up paying three …continue reading the article titled Beware of Credit Card Sweetners

In January of 2003, the Consumer Federation of America released a study entitled “Facts about Consumer Debt and Bankruptcy”. The study compiled data from the Studies by the Congressional Budget Office, the Federal Deposit Insurance Corporation, and independent economist’s link to the rise in consumer bankruptcies directly to the rise in consumer debt.

HOW MUCH IS THE AVERAGE AMERICAN FAMILY INDEBTED TO THE CREDIT CARD COMPANIES AND HOW DID THEY GET THERE?

Currently, there are well over a billion credit cards in circulation. The average American household has about a dozen credit cards and carries a balance of more than $10,000. Approximately 60% carry the balances owed …continue reading the article titled Bankruptcy Reform and the Credit Card Industry – when a good plan goes bad…